SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                ----------------

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): October 23, 2007

                   Universal Stainless & Alloy Products, Inc.
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             (Exact name of registrant as specified in its charter)

           Delaware                    000-25032                   25-1724540
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  (State or other jurisdiction      (Commission              (IRS Employer
  of incorporation)                 File Number)             Identification No.)


         600 Mayer Street, Bridgeville, Pennsylvania      15017
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          (Address of principal executive offices)     (Zip code)

       Registrant's telephone number, including area code: (412) 257-7600

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2.):

/ / Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)
/ / Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17  CFR
    240.14a-12)
/ / Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR  240.14d-2(b))
/ / Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act  (17 CFR 240.13e-4(c))













Item 2.02.        Results of Operations and Financial Condition.

         On October 23,  2007,  Universal  Stainless  and Alloy  Products,  Inc.
issued a press  release  regarding  its  earnings  for the third  quarter  ended
September 30, 2007. A copy of the press release is attached hereto.

         The  information  in this  Current  Report on Form 8-K,  including  the
attached press release,  shall not be deemed "filed" for the purposes of Section
18 of the Securities  Exchange Act of 1934, as amended,  or otherwise subject to
the  liabilities  of that  section,  nor  shall  it be  deemed  incorporated  by
reference in any filing under the Securities Act of 1933, as amended,  except as
shall be expressly set forth by specific reference in such a filing.


Item 9.01.        Financial Statements and Exhibits.

         (d)      Exhibits

         99.1     Press Release dated October 23, 2007






                                    SIGNATURE

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                      UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.


                                      By:  /s/ Richard M. Ubinger
                                           ------------------------------------
                                           Vice President of Finance,
                                           Chief Financial Officer and Treasurer

Dated:  October 23, 2007